LP dinner small talk: they're asking about DPI, not your next fund story. Pick 2 honest reactions.

Options

• We need exits — paper marks don't count
• Secondaries are the real product now
• Continuation funds feel like kicking the can
• We'll shrink the next fund — honesty hurts
• Our best companies just need more time
• LPs want mega-fund optics, not our reality
• I'm glad I'm not IR-facing
• DPI pressure makes us worse investors